Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax system
Updated 8 minutes ago
Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax system
Remember Donald Trump's response in the 2016 presidential debate,when Hillary Clinton blasted him for paying virtually no federal taxes?
"That makes me smart," Trump said.
By that logic, Trump is looking smarter than ever now.
On Tuesday, the Internal Revenue Service (IRS) agreed to drop all pending probes of Trump over whether he has paid his fair share of taxes, to settle a lawsuit brought by the president over a leak of his tax returns. That could include, assuming it was ongoing, a long-standing audit into a technique Trump reportedly used to avoid paying taxes years ago that could have hit him with an estimated US$100 million bill if the IRS found wrongdoing.
"That makes me smart," Trump said.
By that logic, Trump is looking smarter than ever now.
On Tuesday, the Internal Revenue Service (IRS) agreed to drop all pending probes of Trump over whether he has paid his fair share of taxes, to settle a lawsuit brought by the president over a leak of his tax returns. That could include, assuming it was ongoing, a long-standing audit into a technique Trump reportedly used to avoid paying taxes years ago that could have hit him with an estimated US$100 million bill if the IRS found wrongdoing.
